Project Selection methods are used to select and prioritize projects within the organization. Using such methods allows you to determine which projects would be beneficial to execute.\r\n\r\nThere are 2 categories of Project Selection Methods defined in the PMBOK Guide. One method is the benefit measurement model that compares projects by the benefit they bring to the company. These comparative approaches include methods such as Return on Investment (ROI) or Benefit Cost Ratio (BCR). The other Project Selection Method is the mathematical model that uses complex mathematical formulas, which attempt to predict the project's success. Some of these methods apply calculus and linear programming to solve for maximizations. These methods are also known as constrained optimization.
Recent comments